Hellman & Friedman purchases retailer for $2.8 billion

Hellman & Friedman, a global private equity firm, has entered into a definitive agreement to acquire At Home Group Inc., the home décor superstore, for an all-cash transaction valued at $2.8 billion.

“As we enter the next chapter for our company, Hellman & Friedman is the ideal partner to advance our At Home 2.0 long-term strategy,” said Lee Bird, At Home chairman and CEO. “Together, we will have the resources and flexibility to provide our customers with a differentiated experience that meets their evolving needs. This transaction is a testament to the achievements of our team members, and I would like to thank each of them for all they do each day to contribute to the success of At Home.”

Under the terms of the agreement, At Home stockholders will receive $36 per share in cash, which represents a premium of approximately 17% to the company’s closing stock price of $30.67 on May 4, the last trading day prior to media speculation regarding a possible transaction, and a premium of approximately 25% to the 30-day volume weighted average share price.

Read more/Source: Furniture today